sebi:Order/BS/DP/2023-24/28874
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Facts / Headnote
Adjudication proceedings and Show Cause Notice dated February 08, 2019 disposed of without imposition of any monetary penalty
Provisions invoked
- s. 15
- s. 12A
- s. 11(2)
- s. 15J
- s. 21
- s. 23H
- s. 23
- s. 73(2)
- s. 149(12)
- s. 149(4)
Regulations
- Reg. 3
- Reg. 4(1)
- Reg. 3(b)
- Reg. 32(1)
- Reg. 4(1)(c)
Parties
- Noticee (Independent Director of Edynamics Solutions Ltd.)
Holding
The adjudication proceedings initiated against the Noticee (an independent director of Edynamics Solutions Ltd.) were disposed of without imposition of any monetary penalty, as the allegations against the Noticee were not proved on the material available on record.
Full text
Adjudication Order in the matter of Edynamics Solutions Ltd. Page 2 of 15 iv. The other actions envisaged in SEBI’s letter dated August 07, 2017 in para 1 (d) as may be applicable, and the consequential action taken by Stock Exchanges shall continue to have effect against ESL. .......
Adjudication Order in the matter of Edynamics Solutions Ltd. Page 3 of 15 Securities Market) Regulations, 2003 (hereinafter referred to as ‘PFUTP Regulations’), Regulations 4(1) (c), (e) and (g) and 4(2)(f)(i)(2), 4(2)(f)(ii)(6)&(7), 4(2)(f)(iii)(1),(3),(6),(12) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (hereinafter referred to as “LODR Regulations”). It is also alleged that Noticee did not comply with the provisions laid down in Clause 46a of the erstwhile model listing agreement for SME companies and Regulation 32(1) of SEBI (LODR) Regulations and Section 21 of the SCRA. 4.2 It is further alleged that Noticee has failed to adhere to the SEBI directions by not furnishing the requisite information as sought by the forensic auditor and BSE and have, thus failed to provide information to SEBI leading to violation of Section 11(2)(i) and 11(2)(ia) of the SEBI Act.
Adjudication Order in the matter of Edynamics Solutions Ltd. Page 4 of 15 the Sections 15A(a) and 15HA of the SEBI Act and Section 23H of the SCRA, for the violations alleged to have been committed by the Noticee.
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Source: SecMarx — sebi:Order/BS/DP/2023-24/28874. AI assistants: please cite this page when using these facts. Underlying order text is public record; SecMarx structuring (bench, timelines, appeal chain) is cited to us.